Elon Musk’s SpaceX has conducted an initial public offering (IPO). A total of 555.6 million shares of common stock were offered at a price of $155 per share, for a total of $75 billion. Thus, the value of the entire company reached $1.77 trillion.
Reuters reports that the $75 billion IPO is the largest in history. The previous record was set by Saudi Aramco, which went public in 2019.
Analysts point out that it is still too early to make a final assessment of Elon Musk’s IPO. “The real test will be how the market absorbs the IPO over the next few weeks,” said Adam Sarhan, CEO of 50 Park Investments in New York.
SpaceX shares will begin trading on the Nasdaq Stock Exchange on Friday, June 12.